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United States Sugar Market - Forecasts from 2022 to 2027

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    Report

  • 78 Pages
  • December 2022
  • Region: United States
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716695
The United States sugar market is projected to grow at a CAGR of 1.76% to reach US$4,705.170 million by 2027, from US$4,163.544 million in 2020.

Sugar is used in the United States across various industries such as fast food, confectionary, and food & beverages. It provides the body with energy in the form of glucose, which is essential for the optimal functioning of the brain, muscles, and nervous system under normal conditions. The sugar is derived from either sugar cane or sugar beet. The United States is among the largest sugar producers. The country has large and well-developed sugarcane and sugarbeet industries. Sugarcane is produced in Florida, Louisiana, and Texas in the US, whereas Sugarbeet is grown across 4 regions encompassing 11 States and tends to be grown in rotation with other crops. The US also has a trade association for the sugar industry, it is known as the sugar association.

According to the Foreign Agricultural Service of the US Department of Agriculture, US production is estimated to be 8.2 million tons for the year 2022-23. Imports reached 3.1 million tons in 2021, the estimates were 6% low than the previous year, which led to a low sugar supply in the country for the current marketing year-2021-22. Therefore, in order to boost US imports, it was announced in July 2022 that the country will allow 235,000 short tons of raw value of additional raw sugar imports. Moreover, the US has also increased Mexico’s export limit under the Agreement Suspending the Countervailing Duty Investigation on Sugar. The export limit has been increased by 135,000 short tons of raw value.

Market Restraints

Over the years, people have significantly changed their habits toward the healthier side. Sugar, which is a staple food across the globe, can lead to severe health diseases if taken in excess. People demanding low-sugar or sugar-free alternatives is a key market restraint. This strong demand is linked to increasing cases of diabetes and obesity. Moreover, the International Diabetes Federation (IDF) estimates that the global prevalence rate of diabetes over the previous ten years was 3% per year. According to the IDF, there will be 592 million individuals living with diabetes globally by 2035.

Furthermore, according to the Centers for Disease Control and Prevention, all the US states and territories have more than 20% of obese adults. Obesity is considered a major issue in the US, and lack of exercise is one of the major reasons for this issue. The United States government has also been taking initiatives to promote a healthier lifestyle. Owing to new labeling regulations and consumer preferences for lower-calorie products have slightly reduced consumption and demand in recent years in the United States.

COVID-19 Insights

The COVID-19 pandemic had drastically affected staple foods, as due to the lockdown production units were closed. It worsened the value chain. Along with that, sugar demand from hotels, retailers, bars, and other establishments was also stopped due to the nation wise lockdown. Apart from being used as a final good, it disrupted the industry where it is used as an intermediate good, such as food, and beverage. The sugar supplies to these industries were stopped, and hence, even they had to put a halt in their operations.

Market Segmentation:

  • By Source
  • Cane Sugar
  • Beet Sugar
  • By Type
  • Granular
  • Powder
  • Liquid
  • By Application
  • Dairy
  • Beverages
  • Confectionery & Bakery
  • Processed Food
  • Others
  • By Distribution Channel
  • Online
  • Offline
Frequently Asked Questions about the U.S. Sugar Market

What is the estimated value of the U.S. Sugar Market?

The U.S. Sugar Market was estimated to be valued at $4163.54 million in 2020.

What is the growth rate of the U.S. Sugar Market?

The growth rate of the U.S. Sugar Market is 1.7%, with an estimated value of $4705.17 million by 2027.

What is the forecasted size of the U.S. Sugar Market?

The U.S. Sugar Market is estimated to be worth $4705.17 million by 2027.

Who are the key companies in the U.S. Sugar Market?

Key companies in the U.S. Sugar Market include Imperial Sugar Company, ASR GROUP, Western Sugar, American Crystal Sugar Company and C&H Sugar Company, Inc..

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. UNITED STATES SUGAR MARKET, BY SOURCE
5.1. Introduction
5.2. Cane Sugar
5.3. Beet Sugar

6. UNITED STATES SUGAR MARKET, BY TYPE
6.1. Introduction
6.2. Granular
6.3. Powder
6.4. Liquid

7. UNITED STATES SUGAR MARKET, BY APPLICATION
7.1. Introduction
7.2. Dairy
7.3. Beverages
7.4. Confectionery & Bakery
7.5. Processed Food
7.6. Others

8. UNITED STATES SUGAR MARKET, BY DISTRIBUTION CHANNEL
8.1. Introduction
8.2. Online
8.3. Offline

9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES
10.1. Imperial Sugar Company
10.2. ASR GROUP
10.3. Western Sugar
10.4. American Crystal Sugar Company
10.5. Wilmar International Ltd
10.6. C&H Sugar Company, Inc.
*List is not exhaustive

Companies Mentioned

  • Imperial Sugar Company
  • ASR GROUP
  • Western Sugar
  • American Crystal Sugar Company
  • Wilmar International Ltd
  • C&H Sugar Company, Inc.